Suburb Profile Report for Richmond VIC (3121)

Richmond House: Median price $1,220,000, Annual capital growth 6.30%, Number of sales 266, Weekly median advertised rent $680

Richmond Unit: Median price $581,250, Annual capital growth 3.18%, Number of sales 331, Weekly median advertised rent $480

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report

Property value increases in Richmond have tracked just lower than the VIC average of 4.75% over the last 12 months.

Over the longer term, Richmond has seen property prices show investors a 13.49% return over the last 3 years. This is worse than over the last 12 months

The most recent median price for Richmond is $1220000, with sellers offering an average of -6.68% off the asking price.

On average over the past year, suburb has had 22.17 sales per month, which equates to 266 per year.

Richmond is 507th on a list of best yielding suburbs for rents in VIC with a 2.90% return

Property value increases in Richmond have tracked just lower than the VIC average of 3.42% over the last 12 months.

Over the longer term, Richmond has seen property prices show investors a 4.11% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Richmond is giving property investors an average Vendor Discount of around -4.59%. This puts suburb at number 179th in VIC when ranking the most discounted suburbs.

The VIC suburb of Richmond, 3121 is in the Yarra (C) local government area.

Metrics i HOUSE UNIT
$1,220,000 $581,250
-3.94% 1.48%
-2.40% -1.02%
6.30% 3.18%
$680 $480
266 331
2.90% 4.29%
64.76 75.77

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 23814
Median household income ($/weekly) 1697
Median age of persons 33
Median housing loan repayment ($/monthly) 2383
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 1977 8.3
    25-34 years 7395 31.1
    35-44 years 4007 16.8
    45-54 years 2555 10.7
    55-64 years 2166 9.1
    Others 5714 24.0
    Age Group
    Census Count Percent(%)
    Not Married 9944 53.1
    Registered Married 5728 30.6
    Defacto Relationship 3065 16.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 14307 65.0
    Papua New Guinea 728 3.3
    United Kingdom 1001 4.5
    Viet Nam 1335 6.1
    Other 1405 6.4
    Others 3233 14.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 1859 8.8
    Christianity 10411 49.2
    Hinduism 239 1.1
    Islam 299 1.4
    No Religion 8057 38.1
    Others 277 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 1054 11.3
    $2,000-$2,499 806 8.7
    $2,500-$2,999 1288 13.8
    $3,000-$3,499 697 7.5
    $4,000 or more 802 8.6
    Others 4664 50.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 10339 52.3
    Not in the labour force 4879 24.7
    Employed, worked part-time 3202 16.2
    Employed, away from work 700 3.5
    Unemployed, looking for work 649 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 2328 16.3
    Professionals 5626 39.5
    Community & personal service workers 1087 7.6
    Clerical & administrative workers 1935 13.6
    Sales 1128 7.9
    Others 2142 15.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 863 19.5
    Secondary 652 14.7
    Technical or Further Educational Institution 540 12.2
    University or other Tertiary Institutions 1845 41.6
    Other type of educational institution 296 6.7
    Others 239 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 8020 37.1
    Separate house 7061 32.7
    Semi-detached, row or terrace house, townhouse 6405 29.7
    House or flat attached to a shop, office 106 0.5
    Improvised home, tent, sleepers out 4 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 5555 55.2
    Being purchased 2436 24.2
    Fully owned 2018 20.1
    Other tenure type 50 0.5
    Tenure Type
Census 2011, ABS
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